Renting

Finding it hard to fly the coop without references?

Your finally an adult, you’ve left uni, registered to vote, started a job and naturally the next step to cementing your adulthood is to fly the coop. Imagine the freedom, do what you want, see who you want, hell, even eat fruit loops at 2am if you want to.

Just remember moving out not only brings freedom, it also brings bills – lots of them. Gas, electricity, food, water but the most important one rent.

So how do you get to that all elusive dream of being out on your own – when you don’t have a rental history to show a landlord? Landlords want to make sure you look after their investment, so they need assurances that you are able to pay the rent and won’t trash their property.

So what do to when you don’t have a rental history?

Work & Credit Verification

Providing payslips to show that you have a job, bank statements, to show that you can save and credit card statements to show that you pay off your balance on time without incurring interest are all good starts to getting a rental property.

References

If you have been at your job for longer than 5 minutes and feel comfortable asking your boss for a reference (about your work character and responsibilities at work) this would go a long way to satisfying landlords that you are a safe bet.

All in all, you will need three character references: one from your boss and two others, you can ask one of your lecturers, or even your family doctor if you have one, anyone who isn’t a relative.

Sharing

Starting with a share house arrangement won’t get your name on the lease, but it will give you rental history, either through the lessee writing you a reference to say you always paid on time; or through the property manager giving you rental history of the property since you’ve been there, including your name.

Co-sign

You’re parents probably aren’t the right people to ask for a reference, let’s face it, they have seen you at your worst! Dishes in the sink, clothes in the bathroom, a messy room – all sound familiar?  But in all seriousness, they also brought you up, so know you the best – and know you would look after someone else’s house better than the coup you’ve flown from.

Yet, they can still co-sign your lease and vouch that you will be all the things you aren’t at home! They’ll may even be so happy you’re leaving, they’d say you were a saint…..

Relationships

It’s a good idea to start building a relationship with a real estate property manager in the area you want to live in. Be honest with them about what your requirements are and keep in regular touch with them about properties going on the market – they are the only ones standing in the way of you and your dream rental.

The information provided is used to fill in a rental application, a standard form required by most landlords.  The property manager will then use this information to conduct background and credit checks, so it’s important you have good saving and credit histories.

Be responsible and it won’t be long before you are living in your own rental dream.